PETALING JAYA, May 07, 2009
/24-7PressRelease/ -- MoneyTree will be organizing the MoneyTree Young Entrepreneur Startup (YES) Challenge end of this month. This challenge is aimed at helping aspiring Entrepreneurs between ages 17 and 24 launch their business ideas into profitable ventures.
The nature of this challenge is as close as it can get to the real world of Entrepreneurship. Entrepreneur aspirants would be required to not only generate business ideas that would attract investors, but to also follow through to making it into a profitable business.
MoneyTree Asia Pacific CEO, Mr. Michael Reyes stated, "We believe the YES challenge would not only allow the young aspiring Entrepreneurs to learn skills that would sharpen their Entrepreneurial mindsets, but it would also provide them with the opportunity to experience the practical applications of the Entrepreneurial skills they have acquired through the 1-Day MoneyTree Entrepreneur Fast Track Program".
The YES challenge would span over a 4-month period whereby teams (consisting of 3 - 4 members) are to come up with a commercially viable and scalable business idea and then present their business idea to a panel of judges and advisors (local and International). The Advisory Panel consists of experienced Industry Experts, Heads of Multinational Corporations, Academicians and representatives from Government agencies.
If the teams' ideas are judged to be commercially viable and scalable, the teams are then given approval by the judges to solicit funding from investors made up of members of the general public and private investors. Each team can only solicit a maximum of RM 25,000 from investors through the sales of shares of their businesses. Teams would be assigned mentors to ensure the success of their businesses. At the end of the 4-month period, if their business makes profit or is poised to make profits in the near future, the teams would then move on to Phase 2. In Phase 2, the small business that the teams started earlier would now be scaled up to a mini Enterprise where the maximum funding the teams can solicit is RM 75,000. Ultimately, if the teams perform well in Phase 2, they would then be channeled to Government funding to help bring these mini Enterprises to the next level.
To ensure the teams are properly trained with the necessary Entrepreneurial skills and mindsets to succeed in this challenge, these teams would have to go through the intensive 1-Day MoneyTree Entrepreneur Fast Track Program specially designed to prepare the young Entrepreneur aspirants for the real world of Entrepreneurship.
The MoneyTree Young Entrepreneur Startup (YES) Challenge is the FIRST and ONLY business challenge in Malaysia that requires the teams to not only come up with a business idea, but to also implement those ideas and turn them into profitable ventures. In the YES Challenge, we're talking about REAL MONEY, REAL INVESTORS, and ultimately, participants of the YES Challenge could walk away with a REAL BUSINESS!
On top of that, the Grand Prize Winners would walk away with RM 20,000 in cash and attractive prizes!
For further information regarding the YES Challenge, you can either contact uV at uvwong@moneytree.my or call Ms Evelyn Reyes at 03 - 7954 4514.
About MoneyTree
The MONEYTREE Program is a unique program designed to educate and develop financial intelligence amongst today's young generation so as to prepare them for the financial challenges they will meet in their future. For further information, please contact us at +603 7954 4514
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